LEDs, or light-emitting diodes, are becoming one of the fastest technology shifts in human history. By 2020, they will make up 69% of sales and come close to 100% within their industry by 2025.
LEDs are price competitive, making them the cheapest option for sustainability.
A recent study also points out that solar LED lighting could create about 2 million new jobs. As a result, they could become one of the cheapest and easiest ways to cut energy usage.
While wind and solar are challenging the traditional electric generation sector, they have not upended it yet the way LEDS have overtaken the lighting industry.
Back in 2010, they represented nearly nothing in the market, which makes the scheduled 69% of sales in 2020 quite impressive. The rise of the LEDs is no surprise to anyone watching the clean energy industry, but the extent to which the technology is upending traditional, vertically integrated lighting companies is a quiet revolution.
LEDs have been helped along by regulation, including many country phasing out incandescent light bulbs, as with both wind and solar as well. They are now price-competitive with compact fluorescent bulbs, and earlier this year GE was the first major lighting manufacturer to announce it would discontinue compact fluorescent bulbs altogether.
As LEDs transform lighting choices around the world, it’s not just traditional lighting companies that will be disrupted. 2 million new jobs will be created thanks to solar LED lanterns according to a recent study’s findings.
With the environment and future of the world in mind, LEDs could be one of the most significant, and cheapest, ways to cut energy use as many countries commit to a lower-carbon future.
LEDs are poised to become the backbone for everything ranging from a smarter home to smarter cities.